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New Jersey probate:

Does a refunding bond and release form have to be signed BEFORE assets can be transferred from the estate to the beneficiaries?

It seems odd since the beneficiary is acknowledging receipt of funds that he or she has not actually received yet?

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It seems odd since the beneficiary is acknowledging receipt of funds that he or she has not actually received yet

This is a common practice in New Jersey, even though it seems unfair for the reason described. I don't know if case law has ever tested the validity of doing it in this manner.

The practice probably started contemplating an in person "closing" type environment, where the signed release and a check were exchanged simultaneously.

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  • Is there a state statute or anything in writing?
    – Steph
    Oct 10, 2023 at 16:41
  • @Steph There is no statute that authorizes obtaining a signature on a receipt before providing an inheritance. State law incentivizes getting sign offs, because doing it by court hearing without a signature is time consuming and expensive by comparison and NJ case law has authorized charging that expense to the people who don't sign off.
    – ohwilleke
    Oct 10, 2023 at 16:48

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